Tax Rules: Final: 5703-5

5703-5-07- Allowance for
expenditures to remove architectural barriers in determining
the value of issued and outstanding shares of stock on the
net income basis of the corporation franchise tax

Pursuant to the provisions of Amended Substitute Senate Bill
No. 162, effective July 23, 1976, and federal Public Law
94-455, effective October 4, 1976, a deduction of
expenditures for modifying architectural barriers to the
handicapped may be reflected in the determination of the
value of issued and outstanding shares of stock on the net
income basis of the corporation franchise tax.

Such deduction shall be available to taxpayers making the
election afforded by section 190 of the Internal Revenue
Code, and shall consist of those expenditures qualified under
and limited by section 190 and the regulations prescribed
thereunder.

This rule and the deduction permitted hereunder shall first
apply to taxable years beginning after 1976.